Judge rules unredeemed Borders gift cards useless

FILE - In this Feb. 16, 2011 file photo, customers walk into a Borders Books & Music store, in Ann Arbor, Mich. Borders Group filed for bankruptcy Monday, July 18, 2011, after seeking court approval to liquidate its 399 stores when the company failed to receive any bids that would keep the 40-year-old chain in operation. (AP Photo/Carlos Osorio, file)
May 23, 2013 1:24:11 PM PDT
If you have a gift card from the defunct Borders bookstore chain, you're out of luck.

A federal appeals court judge has ruled that customers who hold $210 million in gift cards from the chain aren't eligible for refunds.

The decision upholds a lower court ruling.

There were nearly 18 million gift cards outstanding in the months after Borders filed for Chapter 11 bankruptcy protection in February 2011.

At one time, there were 642 Borders stores nationwide.


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